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of . i.+t. MEMORANDUM <br />River TO: Mayor and City Council <br />FROM: Pat Klaers, City Administrator <br />DATE: April 21, 1995 <br />SUBJECT: Surface Water Management <br />Attached, is some of the material that was used for the 2/20/95 CIP <br />discussion on surface water management (SWNI). Now that we know more <br />about 1995 SWM projects, we hope to provide the Council with an update on <br />Tuesday on the status of this fund. The generalized comments in my 2120 <br />memo relating to being $600,000 dollars in debt, in addition to the <br />$1,000,000 dollars in bonds that we have already spent, are accurate. Also, <br />unless development fee's provide funding or the levy is increased, we will not <br />have moneys for any substantial project until after the year 2000. This is <br />because the $210,000 dollar annual levy is necessary to pay off the debt that <br />was issued in 1994, and the debt that will need to be issued in 1995; leaving <br />• no room for additional projects in the next few years. <br />• <br />~~swnv~o~~~~i <br />13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-7425 <br />